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作为以“立足集团、服务集团”为出发点和归宿点、以加强集团资金集中管理和提高集团资金使用效率的非银行金融机构性质的企业集团财务公司,集团资金的高度集中和有效运作是其生存发展的基础,更是其发挥监督管理职能的保证。集团持有的商业票据,一方面具有仅次于货币资金的流动性,应当纳入财务公司资金归集的范畴;另一方面票据由于其金额的固定性导致支付灵活性较差,且商业票据由于其无收益性必然给集团公司带来一定的资金占用成本。由此可以看出,财务公司模式下集团票据管理关键是寻找票据流动性和收益性的平衡点,在票据管理过程中实现集团整体利益最大化。目前,集团票据管理主要有三种模式,各有特点,各有优劣。
As a financial conglomerate of non-bank financial institutions with a focus on grouping and service groups as a starting point and a destination for strengthening the centralized management of group funds and enhancing the efficiency of the use of funds of the group, the highly concentrated and effective operation of the Group’s funds is Its survival and development of the foundation, but also to play its supervisory and management functions of the guarantee. Commercial paper held by the Group, on the one hand, has liquidity second only to monetary funds and should be included in the scope of fund collection by financial companies. On the other hand, due to the fixed amount of money, the flexibility of payment of bills is poor, and commercial paper due to Its non-profit inevitably brings some capital occupation cost to the group company. It can be seen that the key point of the group notes management in the financial company mode is to find a balance between the liquidity and profitability of bills, and to maximize the overall interest of the group in the process of bill management. At present, there are mainly three modes of group notes management, each with its own advantages and disadvantages.